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De-dollarization and Brics currency rise.
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2023 Feb 21, 12:53pm 17,980 views 250 comments
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5
indc
2023 Feb 21, 7:18pm
ElYorsh says
Right now none. Hence my title will the Brics currency become an alternative to dollar. Just like euro but better. Because Euro is still currency of client states of USA.
what other place in the word is "safer" to keep your money than the USA?
Right now none. Hence my title will the Brics currency become an alternative to dollar. Just like euro but better. Because Euro is still currency of client states of USA.
7
The_Deplorable
2023 Jul 29, 11:53am
BRICS Payment System Will Replace SWIFT
"After the US and the EU seized Russia’s forex reserves, the world realized that it is not only a "political weapon," but an instrument of financial pressure on the external and internal policy of any country and any continent... The US dollar has been weaponized, which is why nations will gradually move away from using it in trade and the BRICS payment system will replace the SWIFT financial messaging network in a "new non-Western world."
"African leaders are also concerned about further use of the dollar and euro. In this regard, the number of countries wishing to join BRICS is growing rapidly, because this is an alternative payment system that is due to emerge within half a year..."
The unipolar world is collapsing and a multipolar world is being formed with the participation of Africa... Last year alone, 19 African countries applied for BRICS membership because they wanted completely new economic relations, Morozov revealed on the sidelines of the Russia-Africa summit.
https://www.azerbaycan24.com/en/brics-payment-system-will-replace-swift-in-new-non-western-world-afrocom-head/
"After the US and the EU seized Russia’s forex reserves, the world realized that it is not only a "political weapon," but an instrument of financial pressure on the external and internal policy of any country and any continent... The US dollar has been weaponized, which is why nations will gradually move away from using it in trade and the BRICS payment system will replace the SWIFT financial messaging network in a "new non-Western world."
"African leaders are also concerned about further use of the dollar and euro. In this regard, the number of countries wishing to join BRICS is growing rapidly, because this is an alternative payment system that is due to emerge within half a year..."
The unipolar world is collapsing and a multipolar world is being formed with the participation of Africa... Last year alone, 19 African countries applied for BRICS membership because they wanted completely new economic relations, Morozov revealed on the sidelines of the Russia-Africa summit.
https://www.azerbaycan24.com/en/brics-payment-system-will-replace-swift-in-new-non-western-world-afrocom-head/
8
DOGEWontAmountToShit
2023 Aug 5, 12:55am
DOGEWontAmountToShit
2023 Aug 5, 12:55am
Haha....
De-Dollarization: India Shuts Down Talk Of BRICS Currency
https://www.ibtimes.com/de-dollarization-india-shuts-down-talk-brics-currency-3703913
De-Dollarization: India Shuts Down Talk Of BRICS Currency
https://www.ibtimes.com/de-dollarization-india-shuts-down-talk-brics-currency-3703913
9
indc
2023 Aug 5, 5:36pm
Trollhole says
Let me tell you something present PM of India Modi was denied VISA 20 yrs back. De-dollarization seeds were started then. Western media will write many articles saying India is against BRICS. Take it with pinch of salt. There may not be final currency. But all the Brics countries will weave their economies so that they will not need any reserve dollar. That will be a major jolt for Dollar then.
De-Dollarization: India Shuts Down Talk Of BRICS Currency
Let me tell you something present PM of India Modi was denied VISA 20 yrs back. De-dollarization seeds were started then. Western media will write many articles saying India is against BRICS. Take it with pinch of salt. There may not be final currency. But all the Brics countries will weave their economies so that they will not need any reserve dollar. That will be a major jolt for Dollar then.
10
Eric Holder
2023 Aug 21, 11:16am
Eric Holder
2023 Aug 21, 11:16am
Shitstorm among shitholes:
Pukin reduced to a picture on a screen. But hey, he can stil travel to the mighty and glorious.... (drumroll) ... Belarus!
JOHANNESBURG (AP) — Vladimir Putin will be the odd one out when leaders from the BRICS economic bloc of Brazil, Russia, India, China and South Africa meet in Johannesburg this week.
While all the others are set to attend the meetings in person, Putin will dial in on a video call.
The reason? An International Criminal Court arrest warrant issued for the Russian president put summit host South Africa in a sticky situation and ultimately resulted in Putin staying at home.
Here's what is expected when the group of emerging economies holds three days of meetings starting Tuesday in South Africa's biggest city and financial hub.
PUTIN DIALS IN
All the leaders from the BRICS countries traditionally attend its summits, and Chinese Premier Xi Jinping is making a rare trip overseas to be at the bloc’s first in-person summit since before the COVID-19 pandemic.
But Putin's indictment by the International Criminal Court in March charging him with war crimes over the removal of children from Ukraine left South Africa with a significant diplomatic conundrum.
South Africa and Russia share strong ties and have an historically close relationship, but South Africa is also a signatory to the international court's treaty. That meant it would be obliged to arrest Putin on the ICC warrant if he set foot on South African soil.
South Africa lobbied for months ahead of the summit to persuade Putin to stay at home so it could avoid the problem, South African officials say. South African Deputy President Paul Mashatile said last month that Putin was determined to come before an agreement for him to participate virtually was finally announced.
“It’s almost like you invite your friend to your house, and then arrest them," Mashatile said at the time. "That’s why for us his not coming is the best solution. The Russians are not happy, though. They want him to come.”
The Kremlin didn't say if Putin had been intending to travel to South Africa, but stressed he would still play a key role in the main summit meeting Wednesday and address the delegates on a video link.
Pukin reduced to a picture on a screen. But hey, he can stil travel to the mighty and glorious.... (drumroll) ... Belarus!
11
AD
2023 Aug 21, 11:39am
AD
2023 Aug 21, 11:39am
If foreign banks and entities do not need to purchase goods and services with US dollars, then they have less of a need to buy assets in US dollars denominations.
The most common US dollar denomination asset is the short term US Treasuries like the 1 year note.
Hence, there is less foreign customers of US Treasuries.
This drop in demand then forces US Treasuries to increase their rates to attract buyers, unless there are buyers such as the Federal Reserve willing to purchase at the lower rates.
.
The most common US dollar denomination asset is the short term US Treasuries like the 1 year note.
Hence, there is less foreign customers of US Treasuries.
This drop in demand then forces US Treasuries to increase their rates to attract buyers, unless there are buyers such as the Federal Reserve willing to purchase at the lower rates.
.
13
Eric Holder
2023 Aug 21, 11:50am
Eric Holder
2023 Aug 21, 11:50am
indc says
Of course not.
Eric Holder says
Shitstorm among shitholes:
Do you count USA as part of the Shitholes?
Of course not.
16
richwicks
2023 Aug 22, 3:59pm
richwicks
2023 Aug 22, 3:59pm
FortwayeAsFuckJoeBiden says
He's simply saying that Russia isn't a major power, when actually it is, and Putin wouldn't show up, although clearly he did because you can see that it's an altered picture because the background flag is the same.
Americans are stupid in that they have no idea how much trouble the US government has gotten this nation into because of 20 years of stupid foreign policy.
Eric Holder says
B-I-r-C-S:
its funny, but i don’t get it. what’s the context?
He's simply saying that Russia isn't a major power, when actually it is, and Putin wouldn't show up, although clearly he did because you can see that it's an altered picture because the background flag is the same.
Americans are stupid in that they have no idea how much trouble the US government has gotten this nation into because of 20 years of stupid foreign policy.
17
RWSGFY
2023 Aug 22, 4:07pm
RWSGFY
2023 Aug 22, 4:07pm
FortwayeAsFuckJoeBiden says
OUR GREAT AND FEARLESS CHRISTIAN LEADER has chickened out of traveling to the BrICS summit in fear of being arrested and handed over to ICC to be prosecuted on a specific war crime ( of which the cretin has confessed in a live TV interview) - kidnapping and deporting children from the occupied territories.
So now he attends international gatherings as a Dell monitor. WHICH IN NO WAY DIMINISHES HIS GRAVITAS!
Eric Holder says
B-I-r-C-S:
its funny, but i don’t get it. what’s the context?
OUR GREAT AND FEARLESS CHRISTIAN LEADER has chickened out of traveling to the BrICS summit in fear of being arrested and handed over to ICC to be prosecuted on a specific war crime ( of which the cretin has confessed in a live TV interview) - kidnapping and deporting children from the occupied territories.
So now he attends international gatherings as a Dell monitor. WHICH IN NO WAY DIMINISHES HIS GRAVITAS!
18
richwicks
2023 Aug 22, 4:49pm
richwicks
2023 Aug 22, 4:49pm
RWSGFY says
No he didn't.
RWSGFY says
This is such a bad photoshop job, even I can see it. They didn't even bother to match the colors. It's pink to the right of the Russian flag.
OUR GREAT AND FEARLESS CHRISTIAN LEADER has chickened out of traveling to the BrICS summit in fear of being arrested and handed over to ICC to be prosecuted on a specific war crime ( of which the cretin has confessed in a live TV interview) - kidnapping and deporting children from the occupied territories.
No he didn't.
RWSGFY says
So now he attends international gatherings as a Dell monitor. WHICH IN NO WAY DIMINISHES HIS GRAVITAS!
This is such a bad photoshop job, even I can see it. They didn't even bother to match the colors. It's pink to the right of the Russian flag.
19
HeadSet
2023 Aug 22, 5:40pm
HeadSet
2023 Aug 22, 5:40pm
richwicks says
Bad enough to look like they used MS Paint from WinXP.
This is such a bad photoshop job
Bad enough to look like they used MS Paint from WinXP.
20
Patrick
2023 Aug 24, 12:22pm
Patrick
2023 Aug 24, 12:22pm
https://www.coffeeandcovid.com/p/cruel-and-unusual-thursday-august
The election fraud which installed Bidet is shaping up to be the worst crime ever inflicted in America. Treason.
The criminals that run the Fed and US foreign policy are losing power, and that's the good news.
The bad news is that the rest of us are going to have a bumpy ride because of those criminals.
Putin continued winning yesterday, in what was probably the day’s actual most important developing story. Not that you’d notice from reading Establishment Media. The Washington Post ran a related story this morning, with the muted, understated headline “BRICS group of nations announces expansion plan with six new members.” But it wasn’t just the announcement of an expansion plan. This is the first expansion in the coalition of non-Western nations since it was originally formed back in 2009.
Six mostly oil-rich countries — Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates — were invited to join next year’s summit as members, and their memberships are expected to start as soon as January.
Russian President Vladimir Putin, stressing the group’s goal of “countering Western global dominance,” congratulated the new members in a video address, saying they would all be “working in a full-scale format next year.”
Congratulations, Joe Biden, for uniting our enemies.
The Washington Post couldn’t be bothered to inform its readers, but with the addition of the top Middle-Eastern oil producing countries, BRICS now controls about 80% of the world’s oil reserves. Oil talks and Bidenomics walks. Goodbye petrodollar, we hardly knew ye. ...
Here’s the Wall Street Journal’s otherwise banal headline this morning, but which included a telling admission in its subheadline:
How about that? A victory for Russia and China. As I said yesterday, Biden’s disastrous Proxy War policies are rapidly sinking the West under Russian and Chinese world leadership. Or maybe that was the plan.
The election fraud which installed Bidet is shaping up to be the worst crime ever inflicted in America. Treason.
The criminals that run the Fed and US foreign policy are losing power, and that's the good news.
The bad news is that the rest of us are going to have a bumpy ride because of those criminals.
22
DOGEWontAmountToShit
2023 Aug 24, 3:04pm
DOGEWontAmountToShit
2023 Aug 24, 3:04pm
The_Deplorable says
Yeah, with the PPP bullshit.
But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions.
Global GDP - G7 and BRICS
Yeah, with the PPP bullshit.
But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions.
23
mbSFBay
2023 Aug 24, 3:10pm
indc says
This youtube handle is a nothing but a propaganda arm of the BJP (the current ruling party, led by a wannabe Caesar) - usually spewing nonsense.
https://www.youtube.com/watch?v=XGd-DvuEPfU
T
This youtube handle is a nothing but a propaganda arm of the BJP (the current ruling party, led by a wannabe Caesar) - usually spewing nonsense.
24
The_Deplorable
2023 Aug 24, 3:18pm
Trollhole says
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.
And the data show that the BRICS GDP exceeds the GDP of the G7.
"Yeah, with the PPP bullshit. But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions"
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.
And the data show that the BRICS GDP exceeds the GDP of the G7.
26
RWSGFY
2023 Aug 25, 3:45pm
RWSGFY
2023 Aug 25, 3:45pm
The_Deplorable says
AND NOW TAT THEY'VE ACCEPTED THE MIGHTY ETHIOPIA AND ARGENTINA IT'S GAME OVER!!!! THE BIRR WILL DISPLACE THE DOLLAR ANY MOMENT NOW!!!!
Trollhole says
"Yeah, with the PPP bullshit. But who cares? Most of them have shitty demographics almost as bad as China's. India is one of the few exceptions"
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.
And the data show that the BRICS GDP exceeds the GDP of the G7.
AND NOW TAT THEY'VE ACCEPTED THE MIGHTY ETHIOPIA AND ARGENTINA IT'S GAME OVER!!!! THE BIRR WILL DISPLACE THE DOLLAR ANY MOMENT NOW!!!!
28
RWSGFY
2023 Sep 13, 10:02pm
They should ask Argentina for investments, methinks. Will have to lend it the money first though...
What a bunch of 🤡🤡
RWSGFY
2023 Sep 13, 10:02pm
Russian sanctioned oligarch Oleg Deripaska said that Russia should attract investors from African countries and other "friendly" countries in order to solve the problem of technological backwardness and increase the volume of GDP by three times.
He stated this in an interview with RBC.
The sanctioned oligarch believes that the only way to accelerate the technological development of the Russian economy is investment.
At the same time, he said that it is difficult for Russian businesses to invest money, because loans are too expensive due to the high rate of the Central Bank, and "the image of the future is blurred."
"Unfortunately, there is not enough capital in Russia today, which is why it is so expensive. Secondly, the risks are very high. We have greatly unbalanced the system in the last 12 years.
The only chance for us is to attract investors here - Chinese, Indian, Indonesian, from the same Africa," Deripaska claims. He claims that it is impossible to "pull them by the ears", but they will come as soon as the war in Ukraine ends.
Before the start of the war, according to the Central Bank of the Russian Federation, foreign business held almost 500 billion dollars in the form of direct investments in the Russian economy. But three-quarters of this amount - about 379 billion dollars - was provided by countries from the so-called "unfriendly" list, whose investments stopped after the introduction of sanctions and counter-sanctions.
Conventional "enemies" of the Russian Federation have invested an amount equal to 20% of all fixed assets in mining and manufacturing - industries that account for 50% of Russian GDP and 40% of employment. Their share is even higher in trade (equal to 80% of fixed assets), finance (almost 70%), as well as in scientific and technical industries (40%).
At the same time, China accounted for 3.3 billion dollars of direct investment in the Russian Federation - or 0.66% of the total amount, and for India - only 613 million dollars, or 0.012%.
They should ask Argentina for investments, methinks. Will have to lend it the money first though...
What a bunch of 🤡🤡
29
DOGEWontAmountToShit
2023 Sep 14, 12:39am
DOGEWontAmountToShit
2023 Sep 14, 12:39am
The_Deplorable says
So?
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum.
And the data show that the BRICS GDP exceeds the GDP of the G7.
So?
30
DOGEWontAmountToShit
2023 Sep 14, 12:46am
DOGEWontAmountToShit
2023 Sep 14, 12:46am
indc says
What a load of crap.
There won't be de-dollarization because none of the countries screaming the loudest for it actually want it. This because they will have to put up a replacement reserve currency which will damage their exports.
So what they say doesn't mean shit compared to what they do. So it is all anti-dollar fantasy porn for those from shit-hole countries.
Have that tattooed onto your inner eyelids.
And read this. The more expanded version of what I just wrote. https://www.geostrategy.org.uk/research/de-dollarisation-would-upend-the-global-economy/
Let me tell you something present PM of India Modi was denied VISA 20 yrs back. De-dollarization seeds were started then. Western media will write many articles saying India is against BRICS. Take it with pinch of salt. There may not be final currency. But all the Brics countries will weave their economies so that they will not need any reserve dollar. That will be a major jolt for Dollar then.
What a load of crap.
There won't be de-dollarization because none of the countries screaming the loudest for it actually want it. This because they will have to put up a replacement reserve currency which will damage their exports.
So what they say doesn't mean shit compared to what they do. So it is all anti-dollar fantasy porn for those from shit-hole countries.
Have that tattooed onto your inner eyelids.
And read this. The more expanded version of what I just wrote. https://www.geostrategy.org.uk/research/de-dollarisation-would-upend-the-global-economy/
31
indc
2023 Sep 14, 11:13am
Trollhole says
https://www.rt.com/news/582934-blinken-post-cold-war-order/?ysclid=lmjhnviht7774842269
The Old World Order is over – Blinken
What a load of crap.
https://www.rt.com/news/582934-blinken-post-cold-war-order/?ysclid=lmjhnviht7774842269
The Old World Order is over – Blinken
32
The_Deplorable
2023 Sep 14, 12:59pm
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum. And the data show that the BRICS GDP exceeds the GDP of the G7.
Trollhole says
The G7 is increasingly becoming irrelevant and highlights the fact that this is no longer a unipolar world.
Trollhole says
"So?"
The G7 is increasingly becoming irrelevant and highlights the fact that this is no longer a unipolar world.
34
RWSGFY
2023 Sep 14, 7:14pm
RWSGFY
2023 Sep 14, 7:14pm
komputodo says
https://en.wikipedia.org/wiki/Covfefe?wprov=sfti1
RWSGFY says
Zeihan is laughing at the whole covfefe:
what is a covfefe?
https://en.wikipedia.org/wiki/Covfefe?wprov=sfti1
35
Misc
2023 Sep 15, 3:59am
There is about 15 trillion in dollar denominated, foreign, debt outstanding.
Good luck replacing that with anything.
Good luck replacing that with anything.
36
komputodo
2023 Sep 15, 9:11am
komputodo
2023 Sep 15, 9:11am
RWSGFY says
It says covfefe is a nonsense word. It has no meaning. Is it your standard practice to use meaningless, nonsense words in your posts?
komputodo says
RWSGFY says
Zeihan is laughing at the whole covfefe:
what is a covfefe?
https://en.wikipedia.org/wiki/Covfefe?wprov=sfti1
It says covfefe is a nonsense word. It has no meaning. Is it your standard practice to use meaningless, nonsense words in your posts?
37
DOGEWontAmountToShit
2023 Sep 15, 9:58am
DOGEWontAmountToShit
2023 Sep 15, 9:58am
The_Deplorable says
So?
As in SO FUCKING WHAT?
As in: So fucking what what you or anybody else bitches about G7 this or G7 that.
Show me where this alternative reserve currency is that is replacing the dollar. No?
Then the entire point of this thread is still bullshit.
QED
The source of the data is not PPP. The source of the data is the IMF - World Economic Forum. And the data show that the BRICS GDP exceeds the GDP of the G7.
Trollhole says
"So?"
The G7 is increasingly becoming irrelevant and highlights the fact that this is no longer a unipolar world.
So?
As in SO FUCKING WHAT?
As in: So fucking what what you or anybody else bitches about G7 this or G7 that.
Show me where this alternative reserve currency is that is replacing the dollar. No?
Then the entire point of this thread is still bullshit.
QED
38
DOGEWontAmountToShit
2023 Sep 15, 9:59am
DOGEWontAmountToShit
2023 Sep 15, 9:59am
indc says
What another load of crap.
Trollhole says
What a load of crap.
https://www.rt.com/news/582934-blinken-post-cold-war-order/?ysclid=lmjhnviht7774842269
The Old World Order is over – Blinken
What another load of crap.
39
Misc
2023 Sep 15, 10:22am
I don't think 'indc' actually read the article. RT propagandists usually do a better job than this. They usually at least get the name of universities and the city they are based out of correct. The article seems free-form propaganda totally made up, along with the quotes. I guess the author was under a deadline and had been drinking too much vodka.
40
DOGEWontAmountToShit
2023 Sep 15, 11:42am
DOGEWontAmountToShit
2023 Sep 15, 11:42am
Misc says
Yup. He's not the only one on PatNet who does that.
Not to mention that article doesn't prove the dollar is toast as the world's reserve currency.
I don't think 'indc' actually read the article
Yup. He's not the only one on PatNet who does that.
Not to mention that article doesn't prove the dollar is toast as the world's reserve currency.
41
indc
2023 Sep 15, 2:16pm
Trollhole says
Trollhole says
Did I say dollar is toast? De-dollarisation doesn't mean dollar is toast. It will get weaker. And eventually loose its prominence.
What another load of crap.
Trollhole says
Not to mention that article doesn't prove the dollar is toast as the world's reserve currency.
Did I say dollar is toast? De-dollarisation doesn't mean dollar is toast. It will get weaker. And eventually loose its prominence.
42
DOGEWontAmountToShit
2023 Sep 15, 2:32pm
DOGEWontAmountToShit
2023 Sep 15, 2:32pm
indc says
Nice bullshit spin to redefine what I said into a BS strawman. Too bad you just got caught.
Definition of de-dollarization:
dollar is toast as the world's reserve currency
dollar is toast as the world's reserve currency
dollar is toast as the world's reserve currency
And that is exactly what I said.
And that is what you and anybody else who push the de-dollarization BS are saying too.
Which is why you deliberately cut out the as the world's reserve currency part to spin things otherwise.
Did I say dollar is toast? De-dollarisation doesn't mean dollar is toast. It will get we
Nice bullshit spin to redefine what I said into a BS strawman. Too bad you just got caught.
Definition of de-dollarization:
dollar is toast as the world's reserve currency
dollar is toast as the world's reserve currency
dollar is toast as the world's reserve currency
And that is exactly what I said.
And that is what you and anybody else who push the de-dollarization BS are saying too.
Which is why you deliberately cut out the as the world's reserve currency part to spin things otherwise.
43
indc
2023 Sep 15, 3:45pm
Trollhole says
Just because you make up a definition it doesn't mean you are correct.
Here is the definition from google.
De-dollarization describes a process of moving away from the world's reliance on the U.S. dollar (USD) as the chief reserve currency.
My suggestion you stress on 'chief'.
dollar is toast as the world's reserve currency
Just because you make up a definition it doesn't mean you are correct.
Here is the definition from google.
De-dollarization describes a process of moving away from the world's reliance on the U.S. dollar (USD) as the chief reserve currency.
My suggestion you stress on 'chief'.
44
DOGEWontAmountToShit
2023 Sep 15, 5:48pm
DOGEWontAmountToShit
2023 Sep 15, 5:48pm
indc says
Sorry. But that was the definition I used. You then blatantly altered it to infer I said something I did not.
You can disagree with that definition. But you didn't.
You can not take other people's words, alter them and then BS with it afterwords. Oh, and then get caught and try to bullshit your way out of it.
That is what you did.
Just because you make up a definition it doesn't mean you are correct.
Sorry. But that was the definition I used. You then blatantly altered it to infer I said something I did not.
You can disagree with that definition. But you didn't.
You can not take other people's words, alter them and then BS with it afterwords. Oh, and then get caught and try to bullshit your way out of it.
That is what you did.
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This is a 1hr video, but very good explanation of coming de-dollarization. Take sometime to listen to it.
I dont agree 100% with the points in the video but would like any financial experts thoughts about it.